Claim BonusRipple CTO Fires Back At Vitalik’s “China-controlled” Comment
A Twitter thread By Ethereum’s Vitalik Buterin against Ripple and its native token has sparked a wide debate over the internet. After, the XRP holder’s lawyer, Ripple’s CTO also fired back at the ETH founder’s comment.
Ripple CTO says this debate should settle by govt or market
Buterin mentioned that Ripple once called them a “China controlled”. He added that at this moment they lost their right to protection. However, he highlighted that Ripple was trying to claim that XRP was not a security for some ‘public policy reasons.’
David Schwartz, Ripple CTO, replied that “The government should punish projects that disagree with our narrative” seems pretty on brand for ETH.
He asked Vitalik Buterin whether this debate shouldn’t be settled by the government or the market. However, Schwartz mentioned that the stated quotation wasn’t pulled from an attempt by Ripple to get the agency to regulate ETH, or was it?
Schwartz attacks ETH merge?
Ripple CTO even targeted Ethereum’s most awaited merge. He added that it’s completely fair to compare miners in PoW systems to stockholders in the firm.
Schwartz sighted the example of eBay’s stockholders which earn from the residual friction between seller and buyers that is not removed by the platform. He stated as the same is the case for ETH and BTC miners.
He added that eBay stockholders want to leave as much friction between buyers and sellers. This is because of their revenue stream and stands the same for ETH and BTC miners. However, this is the main reason why they have higher fees than XRPL.
Earlier, John Deaton, XRP holder’s lawyer challenged ETH founder that he believes that he can lead the should clarify his stance over token holders. Meanwhile, he added that if the SEC would’ve sued the Ethereum foundation and its founders then he would have sued the SEC.
Deaton concluded that we all misspeak some time. This remains a character test. While Ethereum still got the first mover advantage with regulatory acceptance.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP News: Ripple Expands Custody Services to Ethereum and Solana Staking
- Bernstein Downplays Bitcoin Bear Market Jitters, Predicts Rally To $150k This Year
- Breaking: Tom Lee’s BitMine Adds 40,613 ETH, Now Owns 3.58% Of Ethereum Supply
- Bitget Partners With BlockSec to Introduce the ‘UEX Security Standard’ Amid Quantum Threats to Crypto
- Breaking: Michael Saylor’s Strategy Buys 1,142 BTC Amid $5B Unrealized Loss On Bitcoin Holdings
- Bitcoin Price at Risk of Falling to $60k as Goldman Sachs Issues Major Warning on US Stocks
- Pi Network Price Outlook Ahead of This Week’s 82M Token Unlock: What’s Next for Pi?
- Bitcoin and XRP Price Prediction as China Calls on Banks to Sell US Treasuries
- Ethereum Price Prediction Ahead of Feb 10 White House Stablecoin Meeting
- Cardano Price Prediction as Midnight Token Soars 15%
- Bitcoin and XRP Price Outlook Ahead of Crypto Market Bill Nearing Key Phase on Feb 10th
